Pocket Option Review: Is the Account Registration Bonus Worth It?
Are you looking for a binary options or forex trading platform that offers an account registration bonus to new users? If so, you may have come across Pocket Option, a relatively new trading platform that claims to offer up to 100% bonus on first deposits. But is this bonus worth it, and is Pocket Option a trustworthy and profitable platform to trade on? In this comprehensive review, we'll explore the features, benefits, and drawbacks of Pocket Option, with a focus on its account registration bonus.
What Is Pocket Option?
Pocket Option is an online trading platform that offers a range of binary options and forex trading instruments to people from around the world. The platform was launched in 2017 and is owned by Gembell Limited, a company registered in the Marshall Islands. Pocket Option is licensed and regulated by the International Financial Market Relations Regulation Center (IFMRRC) and has its headquarters in the Republic of the Marshall Islands.
Pocket Option offers a web-based trading interface as well as mobile apps for iOS and Android devices. The platform claims to provide access to over 100 trading instruments, including currency pairs, stocks, indices, and cryptocurrencies. The company also offers free demo accounts, social trading features, and a range of educational resources to help traders improve their skills and knowledge.
Account Registration Bonus with Pocket Option
One of the main attractions of Pocket Option is its account registration bonus for new users. When you sign up for a Pocket Option account, you can receive a bonus of up to 100% on your first deposit, depending on the amount you deposit. The bonus is credited to your account as a separate trading balance and can be used to trade on the platform. This means that you can potentially earn more profits without investing more of your own money.
The amount of the account registration bonus depends on the following deposit tiers:
- Deposit $50 to $99 - get a 50% bonus
- Deposit $100 to $249 - get a 75% bonus
- Deposit $250 or more - get a 100% bonus
For example, if you deposit $100, you will receive a bonus of $75, which will bring your total trading balance to $175. If you deposit $500, you will receive a bonus of $500, which will give you a total trading balance of $1000. Note that the account registration bonus does not apply to cryptocurrency deposits.
To claim the account registration bonus, you need to verify your identity and contact the customer support team. The bonus will be credited to your account within 24 hours after your deposit is confirmed. However, keep in mind that the bonus balance has certain restrictions and limitations, which we'll discuss in the next section.
Pros and Cons of Pocket Option
Now that we have outlined the account registration bonus offered by Pocket Option, let's examine the platform's features, benefits, and drawbacks in greater detail.
Pros
- Wide range of trading instruments: Pocket Option offers over 100 tradable assets, including major currency pairs, stocks, indices, and cryptocurrencies. This gives traders plenty of options and opportunities to diversify their portfolios and maximize their profits.
- User-friendly interface: The Pocket Option trading interface is web-based and easy to use, even for beginners. The platform has a clean design, intuitive menus, and helpful tooltips to guide you through the trading process. The charts are customizable and provide various technical analysis tools and indicators.
- Mobile apps: Pocket Option provides free mobile apps for iOS and Android devices, which enable you to trade on the go and monitor your trades in real-time. The apps are well-designed and optimized for smaller screens, with all the key features and tools available.
- Account registration bonus: As we've discussed earlier, Pocket Option offers a generous bonus to new users who deposit at least $50. This can provide a boost to your trading balance and increase your chances of profit. Note that the bonus has certain limitations and risks, which we'll cover in the next section.
Cons
- Limited regulatory oversight: Pocket Option is regulated by IFMRRC, which is not among the most reputable financial regulators. This means that the platform may not adhere to the same strict standards and regulations as other global regulators. This may increase the risks of fraud, scams, or conflicts of interest. However, Pocket Option claims to follow strict security protocols and has not faced any major security breaches or scandals so far.
- Limited customer support: Pocket Option provides customer support via email, live chat, and phone. However, the response times may not be very fast, especially during busy periods. The platform does not offer a comprehensive knowledge base or FAQ section, which means that you may have to rely on the support team to get answers to your questions or issues.
- Limited deposit and withdrawal options: Pocket Option accepts deposits via various methods, including bank transfers, credit/debit cards, and e-wallets. However, the platform may not support all the payment methods that are available in your country or region. Moreover, the withdrawal fees and processing times may vary depending on the payment method you choose. Some traders may also face fees and charges from their bank or payment provider, which can reduce their profits. Also, Pocket Options requires a lot of documents for verification, which can quite annoying.
Risks and Limitations of the Account Registration Bonus
While the account registration bonus offered by Pocket Option may seem attractive, it also comes with certain risks and limitations that you should be aware of. Here are some of the key factors to consider when deciding whether to claim the bonus or not:
Trading volume requirements
To withdraw the bonus and any profits made from it, you need to meet the trading volume requirements set by Pocket Option. The trading volume is calculated as the total amount of trades you make on the platform multiplied by the trade size. The trading volume requirement for the account registration bonus is 50 times the bonus amount. For example, if you receive a bonus of $100, you need to trade a total volume of $5,000 before you can withdraw the bonus balance and any profits made from it.
This means that the account registration bonus is not a free gift, but a means to incentivize you to trade more. You need to be prepared to invest more time and money into your trades to meet this requirement. Moreover, the trading volume requirement does not guarantee that you will make a profit or even recover your initial deposit. You may end up losing more money than you intended or can afford, especially if you are a novice trader.
Limited withdrawal options
Even if you meet the trading volume requirement, there are still limitations on how and when you can withdraw the bonus and profits. For example, you cannot withdraw the bonus balance until the trading volume requirement is met. You also cannot withdraw any profits until you have made at least one deposit from your own funds and traded a total volume equal to the deposited amount.
Furthermore, you may face additional fees and charges for withdrawals, depending on the payment method you choose. Pocket Option charges a withdrawal fee of $10 or 1% of the withdrawal amount, whichever is higher. Moreover, some payment providers may charge their own fees or conversion rates, which can reduce the amount you receive. Finally, the withdrawal processing time may take up to 3 business days, which means that you may have to wait to receive your funds.
Different trading conditions
When you trade with the bonus balance, you may face different trading conditions and terms than when you trade with your own funds. For example, the maximum payout percentage may be lower for bonus trades, which means that you may receive less profit for the same trade size. Also, some assets may be restricted or excluded from trading with the bonus balance. Moreover, the bonus balance cannot be used for social trading or copy trading features, which may limit your trading options.
Market risks
Finally, it's important to remember that binary options and forex trading carry inherent risks and uncertainties, regardless of the account registration bonus or other promotions. The financial markets are subject to various factors, such as economic events, geopolitical tensions, natural disasters, and so on, which can affect the price movements of assets. As a trader, you need to be prepared to accept the risks of trading and to use sound risk management strategies to minimize your losses and maximize your profits.
Conclusion: Is Pocket Option Worth It?
After reviewing the features, benefits, and drawbacks of Pocket Option and its account registration bonus, we can conclude that the platform has some attractive features and trading options that may appeal to certain traders. The user-friendly interface, wide range of assets, and mobile apps make it easy to trade and monitor your positions from anywhere. The social trading features and educational resources can also help you learn from other traders and improve your skills.
However, the limited regulatory oversight, customer support, and payment options may be a concern for some traders, especially those who value transparency and security. Also, the account registration bonus has certain limitations and requirements that may not be suitable for all traders, especially those who are new to trading or have limited funds.
As with any trading platform, it's always wise to do your own research, read reviews, and test the platform with a demo account before investing real money. You should also consult with a licensed financial advisor or experienced trader to help you make informed decisions and minimize your risks.
Overall, Pocket Option can be a viable option for traders who are looking for a web-based platform with a range of trading instruments and bonus offers. The account registration bonus can provide a boost to your trading balance, but you need to be aware of the risks and limitations involved. If you are interested in trying out Pocket Option or other trading platforms, make sure to compare their features, fees, and conditions carefully, and only invest the amount you can afford to lose.